Milly Books

What Milly Books does

Milly Books, Inc. is a private insurtech company founded in 2021 and headquartered in Indianapolis, Indiana, that operates a digital marketplace for buying, selling, and valuing insurance agency books of business. The platform is purpose-built for independent insurance agency owners — particularly small to medium-sized agencies (SMAs) — who have historically been underserved by traditional M&A brokers focused on larger transactions. The core product architecture combines a free, AI/ML-powered Book Valuation Engine that ingests agency data via direct integrations with seven major Agency Management Systems (HawkSoft, Agency Matrix, Nowcerts Momentum, Vertafore AMS360, Veruna, Applied Epic, EZLynx), an anonymous marketplace with AI-driven Match Scoring, and a Slices feature that enables fractional book-of-business sales for partial liquidity and phased retirement. In 2025 the company extended into deal execution with Deal Architect, a suite of M&A document builders (APA, SPA, Shareholders' Agreement, Escrow, Producer Agreement, Stock Pledge Agreement) that brings institutional-grade transaction tooling to smaller agencies.

Milly Books monetizes through a dual-stream model: sellers pay a 3% success fee only on closed transactions (with $0 upfront), while buyers subscribe at $40 per month for premium features including an enhanced buyer profile, Virtual Data Room access, comprehensive valuation reports, and transaction support. Distribution is product-led and self-serve via the web platform at app.millybooks.com, supplemented by an inside-sales motion for enterprise-level transactions, content marketing through The Journal blog, organic LinkedIn presence, and nationwide coverage across all 50 US states. The company is led by co-founders Adam Bowe (CEO) and John Clemmens (CTO), and closed a funding round of approximately $3.78M in June 2025.

Name

Milly Books

Legal name

Milly Books, Inc.

Website

https://millybooks.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Milly Books operates a digital marketplace for buying, selling, and valuing independent insurance agency books of business, serving small to medium-sized agency owners with AI-powered valuations, anonymous listings, fractional Slices sales, and M&A document tools via a 3% seller success fee and $40/month buyer subscription.

Ownership category

akta.pro rank

Product category

Insurance Agency M&A Marketplace

akta.pro industry

PRIMARYBPAHAOAK

Valuation & Purchase Price Allocation (Deal Valuation)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

Keywords

• Insurance M&A marketplace
• Book of business valuation
• Insurance agency brokerage
• Insurtech platform
• Agency acquisition software

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Seller Success Fee: Milly Books charges a 3% success fee on completed transactions, payable only when a deal successfully closes. Sellers pay $0 in upfront costs. This fee model aligns Milly Books' incentives with sellers and democratizes access to M&A support for smaller agencies.
2. Buyer Subscription: Buyers subscribe for $40/month to access enhanced features including an enhanced buyer profile to stand out, Virtual Data Room access for evaluating opportunities, comprehensive valuation reports, and M&A activity support tools.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Milly Books operates a digital marketplace where independent insurance agency owners can list, value, buy, and sell books of business (full books or fractional Slices). The platform combines a free AI-driven Book Valuation Engine, an AI-powered Matching Engine with quantified match scores, anonymous listings, a Virtual Data Room for diligence, and the Deal Architect suite of M&A document builders (APA, SPA, Shareholders' Agreement, Escrow, Producer, Stock Pledge). Revenue is generated through a 3% transaction success fee on closed deals and a $40/month subscription for buyers.

Product overview

Milly Books is a platform-plus-modules architecture for independent insurance agency M&A. The core platform centers on a Book Valuation Engine (free data-driven valuation tool) and a marketplace connecting buyers and sellers of insurance books of business, supplemented by the Slices feature for fractional sales. The Deal Architect module (add-on) provides institutional-grade M&A document builders (APA, SPA, Shareholders' Agreement, Escrow Agreement, Producer Agreement, Stock Pledge Agreement). Supporting features include Buyer Profiles, Match Score, and Diligence Hub for due diligence.

Differentiator

Problem solved

Functional benefit

Brands

• Deal Architect: Professional M&A document builders for insurance agency transactions including APA, SPA, Shareholders' Agreement, Producer Agreement, Escrow Agreement, and Stock Pledge Agreement tools.
• Book Valuation Engine
• Slices
• Matching Engine

Products and services

• Book Valuation Engine Free data-driven valuation engine that analyzes insurance agency book data via direct integration with Agency Management Systems (HawkSoft, Agency Matrix, Nowcerts Momentum, Vertafore AMS360, Veruna, Applied Epic, EZLynx) or via file upload. Uses advanced algorithms incorporating carriers, lines of business, geographic location, policy mix, and real-time market data to deliver objective valuations for full books and individual Slices. Targeted at independent insurance agency owners seeking a quick, objective market-value estimate.
• Milly Books Marketplace Nationwide digital marketplace that connects independent insurance agency sellers with qualified buyers for books of business. Supports anonymous listings, AI-powered buyer-seller matching with quantified Match Scores, Buyer Profile creation, and end-to-end transaction management including secure diligence through the Virtual Data Room. Covers all 50 US states and serves as the primary platform through which sellers list books or Slices and buyers discover, evaluate, and acquire them.
• Slices Fractional book-of-business offering that allows insurance agency sellers to list and sell specific portions of their book — by line of business, carrier, geography, or producer — rather than the entire book. Supports phased retirement, partial liquidity events, and portfolio optimization. Includes an AI-powered Suggested Slices co-pilot that analyzes an agency's portfolio to identify high-demand segments likely to attract premium offers and fringe areas that could be divested.
• Deal Architect Institutional-grade M&A document builder suite for insurance agency transactions, featuring split-screen wizard interfaces that generate Asset Purchase Agreements (APA), Stock Purchase Agreements (SPA), Shareholders' Agreements, Insurance Policy Escrow Agreements, Producer Agreements, and Stock Pledge Agreements. Includes payment waterfall calculators, risk checks, regulatory compliance flags, QSBS tax check, CAUV valuation integration, deadlock detector, funding gap analysis, valuation capture, tax guardrails, commission matrix, chargeback terms, M&A successor clauses, security coverage validation, and UCC-1 filing guidance. Targeted at agency owners and advisors structuring complex deals on the Milly Books platform.

Quantifiable outcome

• 3% success fee vs traditional brokers 6-12%, saving sellers significant transaction costs
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability5 records

Feature6 records

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Asurvest: Asurvest provides technology-enabled insurance agency M&A services, including valuation tools and a transaction marketplace connecting buyers and sellers of insurance books of business. It is the closest direct competitor to Milly Books in terms of both vertical focus (independent insurance agencies) and digital marketplace model.
• Axial: Axial is a digital marketplace and deal-sourcing platform for lower middle-market M&A transactions, providing matching technology and a network of buyers, sellers, and capital providers. While not insurance-specific, it competes for the same digital-first M&A marketplace thesis that Milly Books applies to the insurance agency vertical.
• BizBuySell: BizBuySell is the largest online marketplace for buying and selling small businesses, including insurance agencies among many other categories. It overlaps with Milly Books on the core concept of a digital marketplace for SMB acquisitions and represents a horizontal alternative for agency owners considering a sale.
• Quiet Light Brokerage: Quiet Light Brokerage is an online-focused business brokerage that uses digital listings, valuation tools, and a deal management platform to sell small and mid-sized businesses. It shares Milly Books' digital-first, lower-fee brokerage approach but focuses on online businesses and other verticals rather than insurance agencies.

Broad incumbents

• MarshBerry: MarshBerry is a long-established insurance industry advisory firm specializing in M&A, perpetuation planning, and valuation for insurance agencies. It competes for the same buyer and seller audience as Milly Books but operates through a traditional consulting/advisory model rather than a self-serve digital marketplace.
• Reagan Consulting: Reagan Consulting is an insurance industry consultancy that advises agencies on M&A, perpetuation, organic growth, and valuation. It overlaps with Milly Books on agency valuation and M&A advisory services but delivers them as bespoke consulting rather than a software-driven marketplace.
• Acrisure: Acrisure is a top-10 global insurance brokerage that has grown aggressively through serial acquisitions of independent agencies. It both competes with Milly Books as a buyer of books of business and validates the broader consolidation thesis that drives sell-side demand on the platform.
• Applied Systems: Applied Systems is the largest provider of agency management systems (Applied Epic) for independent insurance agencies in North America. It is integrated with Milly Books for book data ingestion but is a much broader insurance technology incumbent with resources to expand into M&A tooling if it chooses.
• Vertafore: Vertafore is a major insurance technology vendor offering agency management systems (AMS360) and other workflow tools. It is an AMS integration partner of Milly Books and a potential competitor if it extends into agency M&A functionality.
• PCF Insurance Services: PCF Insurance Services is a fast-growing, PE-backed insurance brokerage that acquires independent agencies nationally. It is both a potential buyer on the Milly Books platform and a participant in the broader consolidation trend that drives demand for the company's services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/millybooks

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Milly Books